The Role of Stocks and Shocks Concepts in the Debate Over Price Versus Quantity

Recent literature showed that the choice between a price or quantity control depends, in part, on the dynamic structure of cost uncertainty. Temporary shocks to abatement cost favors the use of a price control, while permanent shocks favor a quantity control. Unfortunately, the importance of this as...

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Bibliographic Details
Main Authors: Parsons, John E., Taschini, Luca
Other Authors: Sloan School of Management
Format: Article
Language:en_US
Published: Springer-Verlag 2014
Online Access:http://hdl.handle.net/1721.1/85639
https://orcid.org/0000-0001-9313-4865